BidaskClub Lowers Manhattan Associates (NASDAQ:MANH) to Buy

BidaskClub cut shares of Manhattan Associates (NASDAQ:MANH) from a strong-buy rating to a buy rating in a research note released on Thursday morning, BidAskClub reports.

A number of other research analysts have also recently issued reports on MANH. Cfra cut shares of Manhattan Associates from a hold rating to a sell rating in a report on Tuesday, May 5th. TheStreet raised shares of Manhattan Associates from a c+ rating to a b- rating in a report on Friday, May 29th. Rosenblatt Securities raised their target price on shares of Manhattan Associates from $80.00 to $100.00 and gave the stock a buy rating in a report on Thursday, May 21st. Zacks Investment Research cut shares of Manhattan Associates from a buy rating to a hold rating in a report on Wednesday, June 24th. Finally, SunTrust Banks raised their target price on shares of Manhattan Associates from $80.00 to $98.00 and gave the stock a buy rating in a report on Thursday, May 28th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the stock. The company has a consensus rating of Hold and an average target price of $98.80.

NASDAQ MANH opened at $90.74 on Thursday. The company has a fifty day simple moving average of $88.56 and a two-hundred day simple moving average of $74.67. The stock has a market cap of $5.76 billion, a P/E ratio of 67.22 and a beta of 2.04. Manhattan Associates has a 12-month low of $35.20 and a 12-month high of $96.00. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.24.

Manhattan Associates (NASDAQ:MANH) last posted its quarterly earnings results on Tuesday, April 21st. The software maker reported $0.40 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.33 by $0.07. The business had revenue of $153.90 million during the quarter, compared to analysts’ expectations of $152.55 million. Manhattan Associates had a net margin of 14.01% and a return on equity of 58.45%. The business’s quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter last year, the company posted $0.41 earnings per share. As a group, sell-side analysts forecast that Manhattan Associates will post 1.2 earnings per share for the current year.

In other Manhattan Associates news, SVP Robert G. Howell sold 31,000 shares of Manhattan Associates stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $90.02, for a total value of $2,790,620.00. Following the completion of the transaction, the senior vice president now owns 128,925 shares of the company’s stock, valued at $11,605,828.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Bruce Richards sold 5,000 shares of Manhattan Associates stock in a transaction on Wednesday, April 29th. The shares were sold at an average price of $71.18, for a total transaction of $355,900.00. Following the completion of the transaction, the vice president now directly owns 39,103 shares of the company’s stock, valued at approximately $2,783,351.54. The disclosure for this sale can be found here. Insiders sold 42,500 shares of company stock valued at $3,728,695 in the last ninety days. 0.74% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in MANH. Alliancebernstein L.P. grew its position in shares of Manhattan Associates by 783.4% in the fourth quarter. Alliancebernstein L.P. now owns 1,219,766 shares of the software maker’s stock valued at $97,276,000 after purchasing an additional 1,081,682 shares during the period. Norges Bank acquired a new stake in shares of Manhattan Associates in the fourth quarter valued at about $86,109,000. Disciplined Growth Investors Inc. MN grew its position in shares of Manhattan Associates by 126.2% in the first quarter. Disciplined Growth Investors Inc. MN now owns 1,268,816 shares of the software maker’s stock valued at $63,212,000 after purchasing an additional 707,881 shares during the period. Renaissance Technologies LLC grew its position in shares of Manhattan Associates by 91.5% in the fourth quarter. Renaissance Technologies LLC now owns 692,980 shares of the software maker’s stock valued at $55,265,000 after purchasing an additional 331,020 shares during the period. Finally, Wells Fargo & Company MN grew its position in shares of Manhattan Associates by 58.7% in the first quarter. Wells Fargo & Company MN now owns 521,233 shares of the software maker’s stock valued at $25,968,000 after purchasing an additional 192,709 shares during the period.

Manhattan Associates Company Profile

Manhattan Associates, Inc develops, sells, deploys, services, and maintains software solutions to manage supply chains, inventory, and omni-channel operations for retailers, wholesalers, manufacturers, logistics providers, and other organizations. The company offers Manhattan SCALE, a portfolio of logistics execution solutions that provide trading partner management, yard management, optimization, warehouse management, and transportation execution services; and Manhattan Active, a set of enterprise and store omni-channel solutions.

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Analyst Recommendations for Manhattan Associates (NASDAQ:MANH)

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